Making $34K Per Year
Marketwatch reported that, “Some Americans who bought their homes between seven and nine years ago have made up to $235,000 over that time selling their home, or $34,000 per year, making a final return on their investment of 78%. That’s the median amount of money home sellers made after 7 years and 3 months in Oakland, Calif., real-estate site Zillow found. In Portland, Ore., sellers last year sold for $145,000 more than what they had paid 9 years earlier, a 65% gain.”

Still, the market is projected to trend higher by at least 5-7% over the next 12 months, as stated by numerous agencies. The Marketwatch story reported, “If you bought a home for $110,000 and spent $30,000 renovating it, most homeowners would want to sell it for around $200,000 to make it worth their while.”

That is making the real estate market the Gold Rush of the decade.

In 2016, 193,000 single-family homes were flipped. This compares with 276,000 homes flipped in 2006, which seems to suggest that we are still far from Bubble-Territory.

ABOUT COUNSELLORS TITLE AGENCY
Since 1996, Counsellors Title Agency had provided swift, proven and knowledgeable title insurance settlement and search expertise for thousands of New Jersey’s attorneys, loan officers, Realtors, borrowers and purchasers. CTA’s detail-oriented team of professionals streamlines the complexities of a real estate transaction to make each one stress and glitch-free.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.